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Newmont Mining Bearish Moving Average Crossover Alert (NEM)

By Nick Russo

Today, shares of Newmont Mining (NYSE:NEM) have crossed bearishly below their 10-day moving average of $41.01 on a volume of 866K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Newmont Mining share prices have been bracketed by a low of $30.19 and a high of $46.07 and are now at $40.82, 35% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.3% while the 200-day MA has risen 1.3%.

SmarTrend recommended that subscribers consider buying shares of Newmont Mining on February 15th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.96. Since that recommendation, shares of Newmont Mining have risen 6.1%. We continue to monitor NEM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses newmont mining

Ticker(s): NEM